I don't invest in any cold-weather climate so things like sidewalk snow shoveling may be different.

Most agents don't make a dollar for 6 months to a year and you need to go into it with significant reserves so you can weather the down periods. 

One thing to consider is the weather.

How I came to my forecasts:$900 yearly repairs (plumber, heating, etc) -  I looked at my (2) townhomes in Virginia;  Over the last 6 years, the average has been $731.00 per unit, per year - this encompassed calling a plumber and an electric guy - each, once per year.$1100 per year x 10 years holding period = $11,000*New Appliances: $2,500*New Water heater: $700*New A/C unit;     $3,500*New Furnace:     $2,500*Repaint interior: $2,500*New Carpet:        

Weather is another consideration for us.

So here in the NW on the Pacific ocean, many places are raw cedar that is allowed to weather.

(Less likely to say something unjustifiable) As for weather the HVAC system should be replaced or fixed depends on costs.

Before we made our first purchase, I looked at the data on Mashvisor, AirDNA, actually listings on AirBNB, compared them all, and made my best educated estimate for what I forecasted revenue to be for the property.

If you're okay with forecasting out 5 years that might open up more opportunities for you. 

I wouldn't recommend anyone purchasing any deal without solid reserves to help weather during times of uncertainty.